Investment highlights: Incident: On December 1, 2012, the company issued an announcement stating that Beijing Ziguang Venture Capital Co., Ltd., a wholly-owned subsidiary of Ziguang Group, the controlling shareholder of the company, increased its holdings of 119,250 shares through the Shenzhen Stock Exchange trading system on November 28 and 29, 2012, accounting for 0.05% of the company's total shares. The price range of the increase was 8.04-8.14 yuan per share. Furthermore, Ziguang Group and Ziguang Group agree that, according to market conditions, they will continue to increase their holdings of the Company's shares within the next 12 months by stopping the bulk trading system through the centralized bidding system of the Shenzhen Stock Exchange. The minimum cumulative increase in holdings was less than 1 million shares, and the maximum was more than 5 million shares (including the shares already increased this time). It shows the controlling shareholders' confidence in the company's future: In 2009, the controlling shareholder Ziguang Group made adjustments to the company's management, solidified the development strategy of the traditional Chinese medicine health care field with “Guhan Health Essence” as the core, focused on solving problems left over from the company's history, gradually divesting non-core assets, and strengthening internal management control, so that the company embarked on a path of growth again. The income of Guhan Health Essence has hovered around 100 million yuan for 9 years, and has also increased to 250 million yuan per bowl in 2011. Considering that after disposing of Nanyue Pharmaceutical Factory, the company is working hard to promote the return of Guhan Health Essence value and promotion within and outside the province, and Guhan Health Essence has the potential to become a major health brand. The increase in the holding of the controlling shareholder at this time shows that it is optimistic about the future of Guhan Health Essence, and also strengthens our confidence in the company's development over the next 2-3 years. Sales of Guhan Health Essence picked up in the fourth quarter: In the third quarter, the company controlled the goods of Guhan Health Essence, which affected the current season's business. The latest information from the company indicates that sales of Guhan Health Essence have returned to normal, and the annual growth rate is expected to be between 15% and 20%. At the same time, the company's application to raise the maximum retail price of Guhan Health Essence is expected to be approved by the end of this year and early next year. It is expected to open up a channel to raise the price of health essence and further enhance the health essence market space. Profit forecast: We maintain the company's 12-14 annual EPS of 0.85, 0.45 and 0.63, respectively, and our main business at 0.32, 0.45, and 0.63. Considering the room for healthy growth, we maintain the company's “gain” rating. Risk warning: The progress of the company's price increase is lower than expected